China's ANTA Sports hits 2-1/2-mth high as Winter Olympics fuels buying rush
09/02/2022 07:48
** Shares of China home-grown ANTA Sports Products
2020.HK , an official sportswear partner of the Beijing Winter
Olympics, surge 8.5% to HK$134.20, highest since Nov 23
** Stock is second biggest percentage gainer in Hang Seng
Index .HSI , third biggest in Hang Seng China Enterprises Index
.HSCE
** The start of the Winter Olympics has triggered a gold
rush for winter sport goods in China, with online purchases of
equipment and clothing from brands such as ANTA Sports and
Descente surging, and physical stores stripped bare urn:newsml:reuters.com:*:nL1N2S106W
** JD.com JD.O and Alibaba's 9988.HK Tmall said sales of
ski products on their platforms soared from Jan 31 to Feb 4
** Sales of down jackets made by ANTA and Descente 8114.T
in the same period doubled from the previous year, according to
JD.com
** ANTA bought Finland's Amer Sports three years ago, whose
portfolio includes European ski brands Atomic and Salomon, and
Canadian outerwear brand Arc'teryx
** China's Eileen Gu landed a tricky jump to become the
first freeski Big Air champion at the Beijing Games on Tuesday
also aided demand for winter sports goods urn:newsml:reuters.com:*:nL8N2UJ0BK
** Shares of rival Li Ning 2331.HK jump 5.2%
** Hang Seng China Enterprises Index .HSCE rises 2.4% and
Hang Seng Index .HSI climbs 1.9%
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))